Platinum Industries Limited has released the official transcript of its post-earnings conference call held on February 13, 2026, providing detailed insights into the company's Q3FY26 performance and strategic initiatives. The transcript was submitted to stock exchanges on February 18, 2026, under Regulation 30 of SEBI (LODR) Regulations, 2015.

Financial Performance Highlights

The company delivered robust financial performance during Q3FY26, with management highlighting strong growth momentum across both standalone and consolidated operations. Chairman and Managing Director Krishna Rana emphasized the company's leadership position in PVC and CPVC stabilizers manufacturing in India.

Management Commentary on Growth Strategy

During the earnings call, management outlined ambitious growth targets, expecting to accelerate growth trajectory with more than 40% revenue growth in FY2027 and a 35% CAGR from FY2026 to FY2029. CFO Ashok Bothra highlighted that the standalone revenue of ₹102.62 crores represented a 31% year-on-year growth, driven by higher CPVC volumes and improved product mix.

Egypt Facility Development Update

Management provided detailed updates on the Egypt facility, which represents a key growth driver for international expansion. The facility is expected to be commissioned by September 2026, with commercial production targeting December 2026.

Palghar Facility Operational Status

The management confirmed that the CPVC manufacturing at the Palghar facility is operational at 60-65% capacity utilization. The calcium zinc production line faced automation issues but is expected to achieve full commercial production by April 2026.

New Business Ventures

The earnings call revealed details about the newly incorporated Rivadu Lifesciences Private Limited, where Platinum Industries holds 70% equity. Management expects revenue generation from the pharmaceutical business starting FY2027, focusing on nutraceuticals, APIs, and excipients through a contract manufacturing model initially.

Market Outlook and Capacity Utilization

Management expressed optimism about PVC market recovery, noting that prices have reversed upward from mid-January 2026 following China's withdrawal of the 13% rebate policy. The company operates with different product mix utilizations, with flakes form running at 95% capacity in Unit 1, while powder capacity utilization has increased from 10% to 20-30%.

Regulatory Compliance

The earnings call transcript was made available on the company's website at platinumindustriesltd.com in compliance with Regulation 46(2)(oa) of SEBI (LODR) Regulations, 2015. The company maintains its commitment to transparent communication with stakeholders through regular disclosures and investor interactions.

Spot platinum has staged a recovery, gaining over 5% to reach $2,217.75 per ounce after previously retreating to $2,175.10 despite posting gains of more than 3% in recent trading. The precious metal had earlier pulled back from its all-time high of $2,377.50 per ounce, but the latest surge demonstrates continued market strength. This adjustment comes after an extraordinary rally that has seen the precious metal deliver remarkable gains exceeding 140% year-to-date, climbing from below $1,000 per ounce at the start of the year.

Current Market Position and Performance Metrics

Despite the recent volatility, platinum futures continue to establish the metal as a market leader among precious metals. The metal had risen for a 10th consecutive session before experiencing a pullback, marking its longest winning streak since 2017, with year-to-date gains representing the largest annual advance since at least 1987.

Investment Options for Indian Investors

For Indian investors seeking exposure to platinum's exceptional performance, several investment avenues remain available. Physical platinum can be purchased in the form of coins, bars, or bullion from jewellers or authorised online platforms. Investors should ensure purity certification, such as PGI certification or a recognised hallmark, before purchasing.

A more convenient route is through Exchange-Traded Funds (ETFs), though platinum ETFs are not listed on Indian stock exchanges like the NSE or BSE. However, Indian investors can access platinum ETFs through overseas markets via platforms such as Zerodha, Groww, and ICICI Direct, which offer international investing facilities.

Supply Constraints and Market Fundamentals

According to the World Platinum Investment Council (WPIC), the market remains in deficit, making the metal attractive as a diversification option. Global platinum markets continue experiencing structural tightness, with South Africa, responsible for the bulk of global output, continuing to grapple with production challenges that keep inventories thin.

"More than 600,000 ounces are held in US warehouses as traders await the outcome of Washington's Section 232 probe, which could impose tariffs or trade restrictions, while supply disruptions in South Africa, the world's largest producer, have contributed to a third consecutive annual deficit," noted Jigar Trivedi, Senior Research Analyst at Reliance Securities.

China's Market Influence and Industrial Demand

Growing Chinese demand, both industrial and speculative, continues to add significant depth to the market and increase global price discovery. Industrial users face high leasing costs, while shipments to China remain robust. Optimism has been bolstered by the launch of platinum futures on the Guangzhou Futures Exchange, where prices have risen above other benchmarks, supporting continued upward pressure on the metal.

Platinum's demand profile blends investment and industrial usage, remaining critical in automotive catalytic converters, industrial applications, and emerging hydrogen fuel-cell technologies. Policy shifts extending timelines for internal combustion engine vehicles in some regions have bolstered industrial demand.

Investment Considerations and Market Outlook

While platinum exposure offers diversification benefits, investors should be mindful that overseas ETFs carry additional risks, including currency fluctuations and global market volatility. These investments are made in foreign currency and are subject to overseas investing norms, including the Liberalised Remittance Scheme (LRS), currency conversion costs, and exchange-rate risk.

The platinum surge occurs within a broader precious metals rally driven by expectations of further rate cuts by the US Federal Reserve, geopolitical friction, and persistent inflation concerns. However, like all commodities, platinum comes with price volatility and is not a guaranteed return, requiring careful assessment of suitability before investing.